U.S. stock index futures were lower on Thursday morning, as investors are still digesting the Fed's latest comments.
div > div.group > p:first-child"> At around 3:00 a.m. ET, Dow futures fell 62 points, indicating a negative open of more than 114 points. Futures on the S&P and Nasdaq were mixed.
The Dow closed lower on Wednesday after the Federal Reserve announced a more dovish policy. Jay Powell, the Fed's chair, said the central bank is forecasting no rate hikes in 2019, and that is down from two hikes forecast earlier. U.S. Treasury yields fell on the news, which added pressure on certain stocks, including banks.
Rising rates are good for banks since they are able to lend out money to investors at a profitable rate of interest. Lower interest rates restrict the bank's ability to make profits thus adding pressure on margins. U.S.-China trade is also in focus for investors after mixed comments from the White House. President Donald Trump said Wednesday that Washington's tariffs on Beijing could stay on for a"substantial period of time."
On the data front, there will be jobless claims out at 8.30 ET. And in corporate news, Tencent, Darden Restaurants and Nike are set to publish their latest results.
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